Mask Network will collaborate with Layer 2 solution aggregator Polygon (formerly Matic Network), to conduct technical conversations about the current issues, such as traffic and high gas fee on Ethereum, and to focus on performance optimization in the DeFi field, to create a faster and more practical decentralized environment for users.
During Mask Network’s recent ITO of $MASK, Mask Network found that users have encountered unpleasant experiences, such as slow confirmation process and high gas fee. This has become not only a major issue for Ethereum, as the existing ecosystem cannot provide sufficient computation support, but also a challenge that open finance must overcome before it gets ready for the broader market.
Polygon proposed a solution: to simplify the interaction process between users and the decentralized world. In this collaboration, Mask Network will first integrate QuickSwap, a decentralized exchange that is part of Polygon’s ecosystem, enabling users to trade assets more quickly and with near-zero gas fee. We will then complete the integration with Polygon through joint bounty to further develop the ecosystem and explore new possibilities for operations such as payments and decentralized trading.
Our first joint bounty:
Polygon and Mask Network have reached a deep consensus on solving the current problems open finance is facing, and hope to work together to find ways to expand the capacity of Ethereum. Please follow @0xPolygon and @realmaskbook on Twitter for more information about the collaboration!
QuickSwap is a next-generation Layer 2 decentralized trading platform that enables lightning-fast transactions with near-zero gas fee. QuickSwap is based on Ethereum, with scalability infrastructure and funding provided by Matic on Layer 2, QuickSwap looks to bring permissionless decentralized trading to Layer 2, replacing Uniswap and bringing the new era of decentralized finance to Layer 2.
About Polygon (Formerly Matic Network)
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc and Standalone Chains like Matic POS, designed for flexibility and independence. Polygon’s Layer 2 Chains have seen widespread adoption with 100+ Dapps, ~12M txns and ~250K unique users.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
About Mask Network
Mask Network creates a decentralized application ecosystem that bridges the gap between Web 2.0 (the existing Internet) and Web 3.0 (the new open Internet) for tens of thousands of users, helping them make a seamless transition. It provides the main function of encrypting and decrypting information transmission and evolves around this function, integrating de-private social, borderless payment network, decentralized file storage and sharing, decentralized finance, and governance (DAO) to help users protect their privacy, data, assets and rights on traditional social networks such as Twitter, Facebook, etc.
Mask Network advocates that users should value their privacy, personal assets, and sovereignty, and firmly believes in an ownership economy. People should own their own creations, their own data, their own attention, and the virtual space they choose to contribute to.